Responsible for quantifying the risk levels being assumed by Grinnell Mutual Re in property-casualty reinsurance contracts. Develops risk-adjusted premiums through technical analysis of loss experience and exposure-based methods for reinsurance contracts across both the farm mutual and brokered account space. Involves pricing a large variety of contracts such as Excess Per Risk (property and casualty), Catastrophe, Quota Share, and Aggregate contracts.  Provides in-depth analytical analysis on a variety of business problems.

This position qualifies for our flexible workplace options. Work at our Grinnell, Iowa, headquarters or from a home office in any of the following states: Alabama, Arizona, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Maine, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Virginia, Wisconsin, and Wyoming. Please note that candidates must be eligible to work in the U.S. without Grinnell Mutual sponsorship.

• Tests and validates assumptions underlying pricing models.

• Conducts profit margin analysis to achieve risk-adjusted target rates of return.

• Helps develop actuarial models to assist in pricing reinsurance contracts.

• Extracts, manipulates, and analyzes large databases for trends and insights into the performance of the business.

• Prices treaty reinsurance for property-casualty business and provides actuarial support to underwriters in pricing risks for a range of classes, including casualty, property, multiline, and specialty lines.

• Determines optimal reinsurance structures given client risk profile and underwriting strategy.

• Contributes to the maintenance of pricing tools on an annual basis and recommends innovative solutions to improve pricing model sophistication. Works with underwriters, brokers, and other actuaries in the division for enhancing and developing new pricing tools as required.

• Completes peer review of assumptions, models, results, and reporting.

• Identifies trends in portfolio performance and recommends appropriate actions.

• Monitors and analyzes developments in actuarial techniques, laws, and regulations applicable to company operations, and competitive developments in the marketplace.

• Aligns the pricing process with improved capture and modeling of policy exposures to assess aggregations of risk and better inform the technical rating process.

• Conducts detailed segmental reviews within classes of business to objectively assess profitability; providing evidence-based conclusions and recommendations for strategic changes, underwriting actions, and portfolio optimization.

• Supports the creation of systems specifications, contracts, commission structures, and other actuarial aspects of product development.

• Assists in preparing and reviewing treaties and amendments, which includes collaboration with the Legal division.

• Presents analyses in clear terms appropriate to the audience. May include internal and external groups, customers, senior leaders, and board members. Presentations may be to educate, influence, or support recommended changes and market trends.

• Represents Grinnell Mutual and the reinsurance division in a professional manner at both internal and external meetings as requested. Occasional travel (day and overnight) is occasionally required.

• Advises farm mutuals on the design and modernization of their personal property rating plans.

• Responsible for recommendations related to pricing risks taken by the company to maintain long-term profitability.

• Responsible for reporting business expenses in a timely manner through an expense account for any work-related travel.

• Uses independent judgment to determine appropriate techniques and assumptions for pricing reinsurance contracts.

• Responsible for the selection of parameters needed to populate pricing models by evaluating all available, relevant information.

• Performs other duties as assigned.

• Bachelor’s degree in mathematics, actuarial sciences, economics, finance statistics, or related field requiring modeling, programming, or quantitative analysis from an accredited college or university; or equivalent combination of education and experience.

• Three (3) years of insurance/reinsurance or actuarial/analytics experience. Reinsurance pricing experience desired.

• Successful completion of three (3) or more actuarial exams desired

• Experience in pricing a variety of property-casualty reinsurance contracts preferred.

• Familiarity with common statistical distributions and fitting techniques. Ability to develop aggregate loss distributions and compute the economic value of treaty features.

• Experience with rate reviews and rating plans for Homeowners and Farmowners highly desired.

• Ability to apply the principles of logical thinking to define problems, collect data, identify trends, and draw conclusions. Exhibits intellectual curiosity to expand knowledge of actuarial and (re)insurance topics. Willing to question and investigate.

• Ability to influence and negotiate with others and create acceptance for proposals.

• Advanced computer skills, including model building and data capture. Ability to use general office equipment including PCs, telephone, fax, copier/scanner, calculator and demonstrate basic knowledge of Microsoft Office suite products including MS Word, Excel, and Outlook.

• Ability to communicate information, both written and verbal, in a logical, well-thought manner to explain and support a recommendation for change or review of information to underwriters, farm mutual underwriting managers, and divisional leadership.

• Ability to manage multiple and/or conflicting priorities with frequent and unplanned interruptions. Must be able to adapt to change of course as business needs demand through thoroughness, attention to detail, and diligence.

• Ability to read and interpret legal contracts and documentation.

• Ability to work independently in an environment with limited supervision. Ability to work in a harmonious manner with co-workers, supervisors, customers, and the general public.

• Ability to maintain confidentiality of proprietary company, customer, and/or client information.

• Ability to work in a harmonious manner with co-workers, supervisors, customers, and the general public.

• Ability to provide a high level of customer service internally and externally by delivering timely, accurate responses to inquiries in a manner that is easily understood by the recipient. Information may be delivered in verbal or written format.

• Requires regular and predictable attendance to meet the customer needs of the position.

• Demonstrated ability to adhere to all Grinnell Mutual policies.

• Demonstrated ability to incorporate Grinnell Mutual core values in all areas of work.

About Grinnell Mutual

Our core values: Act with integrity Trust and respect others Value our relationships Serve and protect our customers Our vision: We will build on the strength of our roots while meeting the evolving expectations of current and future customers on their farms, in their communities, and for their businesses. We will protect what they grow, own, build, and value. Our mission: We put people and relationships at the center of all we do, so we can protect and restore people's dreams.

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